- Revenues decreased: by 6 % to €222.6 mn from €236.7 mn in 2004
- EBITA amounts to €63.8 mn, EBITA margin at 28.7%
- Net Profit of €45.3 mn up 7.3 %
- EBITA full year forecast of €250 mn maintained
Euronext NV reports today its results for the first quarter of 2005. The same period in 2004 was a particularly strong quarter with derivatives and cash realising record volumes; while this year our derivatives trading activity has suffered due to the lack of volatility at the short end of the yield curve as well as in the equity markets. Group revenues declined by 6 % to €222.6 mn. Costs increased by €4.3 mn (+2.8%) year-on-year mainly due to the €7.0 mn of legal and advisory costs linked to the LSE project booked in the profit & loss account during the period. The EBITA amounted to €63.8 mn down from €82.4 mn in Q1 2004, achieving nevertheless a margin of 28.7%.
All business lines, except derivatives trading have improved their profitability.
The 1st quarter net profit was up 7.3% from €42.2 mn in 2004 to €45.3 mn (i.e. because under IFRS there is no more amortization of goodwill), and combined with the effect of the share buy-back drove the diluted EPS up to €0.41 this quarter (against €0.35 for the same quarter in 2004).
Click here for full details.
.jpg)
